Australia’s Largest Stock Exchange Approves Its First Bitcoin ETF
Australia’s biggest stock exchange, the Australian Securities Exchange (ASX), has given the green light to list the first Bitcoin exchange-traded fund (ETF) on its platform. The issuer, VanEck, will launch the VanEck Bitcoin ETF (VBTC) on June 20.
Following the success of Bitcoin ETFs in the US, with 11 listings since January, Australia is now joining the trend. Arian Neiron, CEO of VanEck Asia Pacific, highlighted the increasing demand for Bitcoin exposure via listed vehicles, demonstrating investor interest.
Australia already had spot Bitcoin ETFs, with the Global X 21 Shares Bitcoin ETF (EBTC) debuting in April 2022 and the Monochrome Bitcoin ETF (IBTC) starting trading on June 4 on the Cboe Australia exchange.
The introduction of a Bitcoin ETF on ASX marks a significant milestone, providing enhanced visibility, credibility, and access to Bitcoin for institutional and retail investors. This move reflects a growing acceptance and interest in Bitcoin investment products, not just in Australia but globally.
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